Question: Consider a retailer using FIXED period inventory model. The retailer places an order for inventory replenishment every 14 days; shipment lead time is 7 days.

Consider a retailer using FIXED period inventory

Consider a retailer using FIXED period inventory model. The retailer places an order for inventory replenishment every 14 days; shipment lead time is 7 days. The daily demand "d" is distributed as, dN(30, 10). This question is about the demand-period that the retailer has to address and the distribution of demand for the demand-period. days. (1) In planning its inventory order amount, the retailer must address the demand for "X" days. X = ("X" here refers to the number of days in he deman-period) (2) The mean demand for the demand-period (your answer to question 1 above) = (3) The standard deviation of demand for the demand-period (your answer to question 1 above) =

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